JPMorgan Chase & Co. Upgrades First Quantum Minerals (TSE:FM) to Neutral

First Quantum Minerals (TSE:FM) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a C$37.00 price target on the stock, up from their previous price target of C$28.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 3.21% from the stock’s current price.

Other research analysts also recently issued reports about the company. TD Securities lifted their price target on First Quantum Minerals from C$41.00 to C$42.00 and gave the company a “hold” rating in a report on Thursday, February 12th. BMO Capital Markets lifted their price target on First Quantum Minerals from C$40.00 to C$48.00 in a report on Wednesday. UBS Group upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price target for the company from C$38.00 to C$50.00 in a report on Thursday, March 12th. National Bank Financial lifted their price target on First Quantum Minerals from C$42.50 to C$47.00 in a report on Thursday, January 29th. Finally, Barclays lifted their price target on First Quantum Minerals from C$42.90 to C$44.60 in a report on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Quantum Minerals currently has a consensus rating of “Moderate Buy” and a consensus target price of C$42.33.

First Quantum Minerals Trading Down 4.2%

FM opened at C$35.85 on Friday. The stock’s fifty day moving average is C$35.59 and its two-hundred day moving average is C$34.80. The company has a market capitalization of C$29.69 billion, a P/E ratio of -1,195.00, a PEG ratio of -1.28 and a beta of 1.50. First Quantum Minerals has a 52 week low of C$17.66 and a 52 week high of C$45.17. The company has a quick ratio of 1.41, a current ratio of 1.42 and a debt-to-equity ratio of 52.92.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, February 10th. The company reported C$0.01 EPS for the quarter. The company had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative return on equity of 0.24% and a negative net margin of 0.52%. Analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current year.

First Quantum Minerals Company Profile

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.